FTC Report Reveals Shocking $1 Billion+ Crypto Scam Losses

The U.S. Federal Trade Commission (FTC) has released a startling report detailing the massive losses consumers have suffered due to cryptocurrency scams. More than 46,000 people Americans have reported losing more than $1 billion worth of cryptocurrency to scams since the start of 2025. According to the FTC’s latest Consumer Protection Data Spotlight, between January 2025 and March 2025, consumers reported losing over $1 billion to fraud involving cryptocurrency.

Over 46,000 People Affected by Crypto Fraud

The FTC report highlights the alarming scale of crypto fraud, revealing that over 46,000 people lost more than $1 billion to crypto scams in less than two years. More than 46,000 people reported losing over $1 billion in cryptocurrency scams since the start of 2025, the Federal Trade Commission (FTC) said in a report on Friday.

Nearly 25% of Scams Involve Crypto Payments

Nearly 25 percent of scams reported last year used crypto as a payment method. This underscores the growing trend of scammers leveraging the complexities and perceived anonymity of cryptocurrency to defraud victims. The world of crypto continues to draw scam artists and fraud. People have reported increasing incidents of cryptocurrency-related theft.

Bitcoin, Tether, and Ether: Scammers' Preferred Cryptocurrencies

The report also identified the top cryptocurrencies scammers use: Bitcoin (70%), Tether (10%), and Ether. Understanding which cryptocurrencies are most often associated with scams can help consumers be more vigilant and avoid becoming victims.

Protect Yourself from Crypto Scams

The FTC's report serves as a crucial reminder to exercise caution when dealing with cryptocurrency. Always conduct thorough research, be wary of unsolicited offers or guarantees, and never send cryptocurrency to anyone you don't trust. Stay informed and protect yourself from becoming another statistic in the growing world of crypto fraud.